Telecom Argentina (NYSE:TEO) shares shot up 2.4% during trading on Wednesday . The company traded as high as $23.67 and last traded at $22.89. 13,066 shares changed hands during trading, a decline of 94% from the average session volume of 228,825 shares. The stock had previously closed at $23.45.
A number of research firms recently commented on TEO. HSBC lowered shares of Telecom Argentina from a “hold” rating to a “reduce” rating in a research note on Thursday, February 22nd. Zacks Investment Research lowered shares of Telecom Argentina from a “buy” rating to a “hold” rating in a research note on Thursday, April 5th. Finally, Morgan Stanley lowered shares of Telecom Argentina from an “equal weight” rating to an “underweight” rating in a research note on Tuesday, April 3rd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Telecom Argentina currently has an average rating of “Hold” and an average target price of $36.75.
The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.75 and a current ratio of 0.49. The stock has a market capitalization of $4.57 billion, a PE ratio of 9.56, a P/E/G ratio of 2.45 and a beta of 1.12.
A number of institutional investors have recently bought and sold shares of the business. Advisor Group Inc. grew its position in Telecom Argentina by 41.1% in the fourth quarter. Advisor Group Inc. now owns 5,684 shares of the utilities provider’s stock worth $208,000 after buying an additional 1,656 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Telecom Argentina by 72.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 4,105 shares of the utilities provider’s stock worth $150,000 after purchasing an additional 1,729 shares in the last quarter. Castleark Management LLC purchased a new position in Telecom Argentina during the 4th quarter worth approximately $143,000. Deltec Asset Management LLC grew its position in Telecom Argentina by 9.5% during the 1st quarter. Deltec Asset Management LLC now owns 52,000 shares of the utilities provider’s stock worth $1,629,000 after purchasing an additional 4,500 shares in the last quarter. Finally, Victory Capital Management Inc. purchased a new position in Telecom Argentina during the 4th quarter worth approximately $182,000. Hedge funds and other institutional investors own 7.97% of the company’s stock.
Telecom Argentina Company Profile
Telecom Argentina SA provides local and long distance fixed-line telephony, cellular, data transmission, and pay TV and Internet services in Argentina. It also offers cellular services in Paraguay and pay TV services in Uruguay. The company was formerly known as Cablevisión SA and changed its name to Telecom Argentina SA in January 2018.
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